Italy will meet NATO’s goal in the Defense allocations in the amount of two percent of the gross domestic product (GDP), the Minister of Economy Giancarlo Giorgetti said during the interrogation in parliament on Thursday.
According to the NATO criteria, the Budget of Italy for Defense in 2024. It was 1.49 percent of GDP, which is one of the highest levels of the Military Federation, and Italy is under pressure from the United States to increase their allocations.
– We are quite aware of the need to increase these expenditures in the coming years – said Giorgetti, addressing MPs on the multi-year budgetary framework of Italy, Reuters reported.
On paper, reaching a target of two percent would require about 11 billion euros, but Italy tries to adjust the accounting criteria to include the items that were excluded in the defense.
This includes funds spent on certain civilian technologies, as well as pensions payable to retired soldiers.
The European Commission proposed that EU Member States be allowed to increase the defense allocations by 1.5 percent of GDP annually for four years, without initiating disciplinary measures that are otherwise applied when the state deficit exceeds 3 percent of GDP.
(Vijesti.ba / Fena)
